20 The Square
Kelso
Scottish Borders
TD5 7HH

Heritable Retail Investment

  • Let to Boots UK Limited until 21st July 2026 on an extended lease
  • Prominent corner position in affluent Borders town
  • Neighbouring occupiers include WH Smith, TSB, Fat Face and Bank of Scotland
  • Top performing pharmacy with over 10,000 prescriptions a month
  • Lot
    29
  • Auction
    26/Mar/2020
  • Rent
    £24,379 per Annum Exclusive
  • Status
    Sold Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • On behalf of Trustees
Important Auction & Property Update
  • 20 The Square<br>Kelso<br>Scottish Borders<br>TD5 7HH
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
23 miles south-west of Berwick-upon-Tweed
43 miles south-east of Edinburgh
Roads
A698
Rail
Berwick-upon-Tweed Station (Mainline)
Air
Edinburgh International Airport (45 miles north)
Situation

Kelso is located in the Scottish Borders, 43 miles south-east of Edinburgh and is a popular and historic market and tourist town. The property is situated on a prominent corner of The Square in the town centre. Nearby occupiers include Superdrug, Fat Face, Greggs and TSB. There are many old established local traders in the town. There is unrestricted on-street parking throughout the town centre.

Tenure

Heritable.

Description

The property comprises a traditional building with retail at ground and basement floors. The upper floors of the property are in residential use and in separate ownership. The property provides retail and pharmacy accommodation at ground floor with staff and ancillary accommodation at basement level.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald 0771 8899341

EPC

Available at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x.Reversion
Ground
Basement
Retail
Ancillary
83.14 sq m
73.21 sq m
(895 sq ft)
(788 sq ft)
BOOTS UK
LIMITED (1)
21 years from
22/07/2005 on
a full repairing and
insuring lease (2)
£24,37921/07/2026
Totals
156.35 sq m
(1,683 sq ft)
  £24,379 (3) 

(1) For the year ending 31st August 2018, Boots UK Limited reported a turnover of £6,790,000,000, pre-tax profits of £398,000,000 and a total net worth of £875,000,000 (Source: Experian Group 19/09/2019). Boots is the largest pharmacy health and beauty chain in the UK and as at 31st August 2018 had 2,485 stores across the UK
(Source: www.boots-uk.com/about-boots-uk/about-boots/boots-in-numbers/ 20/09/2019).
(2) The current lease is for a term of 20 years expiring 21/07/2020, however a 6 year reversionary lease has been signed from expiry of the current term until 21/07/2026 at a rebased rent of £19,500 p.a.x.
(3) At the commencement of the reversionary lease on 21/07/2020, the rent will rebase to £19,500 p.a.x and the tenant will benefit from a six month rent free period. The seller has agreed to adjust the completion monies so the sale will effectively produce £19,500 p.a.x. from the commencement of the reversionary lease.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    04.03.20
    File Size
    761 KB
    View PDF
  • Site Plan
    Updated Date
    04.03.20
    File Size
    763 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Burness Paull 120 Bothwell Street
Glasgow
G2 7JL
Donald Findlay 0131 473 6901Donald.Findlay@burnesspaull.com

Useful Links

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